Sunday, 7 February 2016

Market Brief – 8th Feb 2016

Across the board, mixed news flows kept the market volatile last week which ended the week marginally lower, however, Friday, for the day it closed on robust note. Prevailing uncertainty will keep the markets volatile and jittery during this month with a negative bias. Some glimpses of hope were seen in the form of announcement by the RBI Deputy Governor, taking measures to improve cap-ex in infrastructure, finance ministry is still very hopeful on GST getting cleared in the coming session of Parliament, lately some good results declared by corporate, and crude off late, showing some traction getting stabilised giving some hope for markets to make a bull case. 

Although, there are some positives but it really needs to be seen how the implementation of 7th Pay Commission and the Union Budget events unfold and. However, if the above mentioned positives fail to deliver, since the undertone of the market is bearish, markets can very easily witness sharp falls.

Technically market too is poised to take out a sharp rally or may witness spiky slide. In terms of levels on nifty a close below 7350 would see a retest of this year’s low of 7240 if broken then a capitulation will take the markets way down to 6700 to 6800 the ultimate support for bulls to be hopeful in the long term, on the other hand if the Nifty manages to surpass 7610 and then 7725 on close basis that seems a bit difficult than we could perhaps conclude that the worst is over for the markets. So in the short term one needs to watch out 7350 on the lower side and 7725 on the higher side both on close basis.

We once again reiterate and advice investor’s fraternity to show some resilience and invest at regular intervals in growth stocks particularly those, which are having least debt leverage and are well governed.

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